Real Estate Investing in Milford, Maine (04461)
Should you buy in 04461 (Milford, ME)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.2% of homes vacant — above national norms.
What’s happening in Milford, ME (04461)?
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Market Analysis: 04461 Milford
The 04461 ZIP in Milford, ME is a local-operator market. Outside capital chasing a $224K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $224K asset, 04461 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader ME picture, 04461 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 04461 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 04461 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Milford:
Property Strategy for 04461
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $193,039 | $1,610 | 6.0% | +8.6% | $96,519 |
| 3BR | $240,006 | $2,070 | 6.2% | +8.9% | $80,002 |
| 4BR | $271,888 | $2,180 | 5.8% | +8.7% | $67,972 |
Market Trends
Home Value History (with trend line)
📊 How Does 04461 Compare?
| Metric | 04461 | Milford | Bangor, ME | Maine |
|---|---|---|---|---|
| Home Value | $224,020 | $224,020 | N/A | $401,109 |
| 5-Year CAGR | 6.9% | 6.9% | N/A | 8.6% |
| Avg Rent | $1,449 | $1,449 | N/A | - |
| Cap Rate | 5.1% | 5.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04461 (Milford, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $224,020 |
| Monthly Rent | $1,449 |
| Price-to-Rent | 12.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.8% |
| Cap Rate | 5.1% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (5.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 04461
Population: 3,083
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 04461
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,240 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much rent can I charge in Milford, ME?
Milford, ME rentals go for roughly $1,449/mo a month. That puts gross yield in solid territory relative to $224K acquisition costs.
Are renters plentiful in Milford, ME?
Milford, ME draws a reliable base of working renters. Demand at the $1,449/mo rent level is reasonable for standard single-family and small multi rentals.
How quickly do rentals get leased in Milford, ME?
Milford, ME carries elevated vacancy risk. Expect stable absorption at market rents of $1,449/mo.
What is the average home sale price in Milford, ME?
Typical homes in Milford, ME go for around $224K. The 5-year CAGR of 0.0% steady price movement.
Is Milford, ME a good place for real estate investing?
Milford, ME comes in at an investability rating of 3.0/5, with median home values near $224K and average rents around $1,449/mo. That combination puts it in the robust tier for investor interest.
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